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ABC Company began operations during 2022 and entered into the following transactions during that year: a. raw materials purchased on account were $165,060 b. raw
ABC Company began operations during 2022 and entered into the following transactions during that year: a. raw materials purchased on account were $165,060 b. raw materials used in production totaled $140,69 (90\% were direct materials and 10% were indirect materials) c. factory utility costs incurred and paid totaled $65, d. the direct labor cost for the year totaled $166,009; all wages were paid in cash e. depreciation on automobiles used by the sales staff totaled \$25, ed f. overhead totaling $128, e was applied to production B. goods having a total cost of $342, bee were completed h. goods costing $285,e were sold to customers for $36, , be cash The journal entry to record transaction (g) would include a debit to: work in process inventory cost of goods sold direct materials inventory manufacturing overhead finished goods inventory
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